THE MAGAZINE FOR THE INTERNATIONAL PULP AND PAPER INDUSTRY
ND Paper Announces Capital Upgrades at Wisconsin and Maine Pulp and Paper Mills
|ND Paper will invest $300 million into its mills in Wisconsin and Maine in the next two years, sparking a transformation and new trajectory for ND Paper, the newly-formed U.S.-based subsidiary of Nine Dragons Paper (Holdings) Limited, the largest containerboard producer in Asia.|
After completing the purchase of its Rumford, Maine and Biron, Wisconsinpulp and paper mills in June 2018, ND Paper immediately executed a strategic review of investment options to further enhance the long-term sustainability of these facilities. This investigation has led the Company to a multi-faceted investment strategy that diversifies the U.S. mills' product mix, increases their overall production capacity, and fundamentally improves their viability for generations to come.
n total, ND Paper expects to invest $300 million within two years to complete these projects. Combined, the projects will create 77 additional jobs in both states.
In Rumford, Maine these investments will sustain the jobs of the 650 employees who currently work at the mill, while the mill enhancements will add an additional 50 employees to the workforce over the next two years.
The Rumford Division will receive an injection of $111 million to finance two significant projects. Planned projects include:
"I want to thank ND Paper for its continued investment in Maine," said Gov. Paul R. LePage.
"This $111 million investment will lead to the creation of 50 new jobs, and is a great example of ND Paper's commitment to improving the overall competitiveness and stability of the Rumford mill. We look forward to continuing to support and partner with ND Paper, as we strengthen and diversify our forest products industry now and well into the future."
In Wisconsin, the Biron Division will commission several major projects at a cost of $189 million. These investments will preserve and sustain the jobs of the 350 employees who currently work at the mill, while the mill enhancements will add 27 additional jobs.
Source PR Newswirerkj / 10/08/2018